Sept 12 (Reuters) - Toshiba Corp has decided to sell its memory chip unit to a group led by Western Digital Corp for about 2 trillion yen ($18.29 billion), Japan's Nikkan Kogyo newspaper said, without citing sources.

TOKYO (Reuters) - A group including Bain Capital and South Korea’s SK Hynix ( 000660.KS) has raised its offer for Toshiba Corp’s ( 6502.T) chip business to 2.4 trillion yen ($22.3 billion) including a 200 billion yen investment in infrastructure, sources familiar with the matter said.

The offer by the consortium, which is led by the U.S. private equity group and the South Korean chipmaker as well as Japanese state-backed investors, was higher than an initial offer of around 1.94 trillion yen, according to the sources who requested anonymity because the talks were confidential.

September 12, 2017 / 8:20 PM / Updated an hour agoToshiba in chip talks with Bain, but doesn't rule out other suitors

TOKYO (Reuters) - Toshiba Corp ( 6502.T) said on Wednesday it has agreed to focus on selling its prized chips unit to a group led by Bain Capital and South Korean chipmaker SK Hynix ( 000660.KS), although it is not ruling out a deal with other bidders.

The announcement came after sources told Reuters on Tuesday that Toshiba was now favoring the Bain group after failing to bridge disagreements with rival suitor Western Digital Corp ( WDC.O).

Wednesday marks the third time the embattled Japanese conglomerate has failed to meet a target date to sell the $18 billion business - the world’s second-biggest producer of NAND memory chips.